$FDUSD has lost its peg, Sun accuses issuer of bankruptcy.

Justin Sun, a prominent fighter for justice in the crypto world, said that First Digital Trust, the issuer of FDUSD, has refused to redeem $501 million in TUSD reserves.The reason? "Uncertainty about the beneficiaries."

FDUSD was flying at -7% at the moment. Now Sun is urging everyone to save assets and Hong Kong regulators to urgently restore order.

Well, who would have thought that another "stable" stablecoin would turn out to be not so stable?